Economic Logic

The current doctrine in monetary policy is that central bank need to be very clear about their policy rule so that economic agents can form ...

There is a long standing debate in the United States about undocumented workers, and a more recent one in Europe as well. The debate is on t...

The current debt crisis is the culmination of a long process of public debt accumulation over the last three decades in developed economies....

Life insurance is complex matters, and some say this is why you need the visit of an insurance salesman to understand the policy option (and...

When it comes to teaching, nobody likes revamping lecture notes and reforming a curriculum. This is especially true when one is oneself not ...

It is now well established that good institutions are crucial for a healthy economy. But you do not create good institutions with a magic wa...

When we think of price elasticity of demand, there is no reason to think that it would be different depending on the reason the price has ch...

One of the supposed benefits of monetary union is that it leads to an increase in trade. The basic mechanism is that the exchange risk disap...

It should be no surprise that people tend to think they are better than average, or at least that they think they are better than they truly...

Despite widespread claims, China is still far from a capitalist economy. There is still a considerable amount of command-and-control, and th...

A little less than a year ago, a controversy erupted about the publishing practices of Bruno Frey and his students. Indeed, they tend to rep...

Scandinavia is a mystery: marginal tax rates on labor income are astronomical, yet labor force participation is high, even higher than in th...

Designing an unemployment insurance system is tricky, because you want to discourage shirkers (cheaters who refuse job offers or search too ...

A frighteningly low proportion of patents are granted to women, 7.5% in the United States, while only 5.5% of those that are commercialized ...

Whenever some important sports event looms, the popular press inevitably comes up with articles about the loss of productivity during said e...